Guideline Value for Karumari Amman Nagar 2nd Street

Karumari Amman Nagar 2nd Street guideline value

The current guideline value of Karumari Amman Nagar 2nd Street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village, under the Selaiyur SRO, and is classified as Residential Class II Type - II.

How the guideline value of Karumari Amman Nagar 2nd Street has changed

Over the years, the guideline value of Karumari Amman Nagar 2nd Street has seen several revisions. The 2012 revision set the guideline value at Rs 1,200 per sq.ft, which then decreased to Rs 804 per sq.ft in 2017. However, from 2017 to 2023, the value increased significantly to Rs 1,200 per sq.ft. The most recent revision in 2024 has raised the guideline value to Rs 1,300 per sq.ft, marking an 8% increase from the previous year.

In summary, the changes between revisions are as follows: from 2012 to 2017, there was a decrease of 33%, followed by a substantial increase of 49% from 2017 to 2023. Overall, from 2012 to 2024, the guideline value has increased by 8%. The register does not contain figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO, with guideline values ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value in this area is Rs 2,400 per sq.ft, placing Karumari Amman Nagar 2nd Street's 2024 figure below that median.

• Karumari Amman Nagar 1st Street: Rs 1,300 per sq.ft (2024)
• Karumari Amman Nagar Link Road: Rs 1,300 per sq.ft (2024)
• Karumari Amman Nagar Main Road: Rs 1,300 per sq.ft (2024)
• Karumari Amman Nagar-Sri Devi Nagar Main Road: Rs 1,300 per sq.ft (2024)
• Karumari Amman Nagar: Rs 1,300 per sq.ft (2024)
• Kaspapuram Road: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Karumari Amman Nagar 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total to Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Karumari Amman Nagar 2nd Street?

The Sub Registrar Office that covers Karumari Amman Nagar 2nd Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Madambakkam

The guideline value is a critical factor in the registration process when buying or selling property in Madambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in property transactions.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions, reflecting the property's worth as per the guideline value.

Frequently asked questions

What is the current guideline value of Karumari Amman Nagar 2nd Street?

The current guideline value of Karumari Amman Nagar 2nd Street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then back to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,300 per sq.ft in 2024.

What is the land classification of Karumari Amman Nagar 2nd Street?

Karumari Amman Nagar 2nd Street is classified as Residential Class II Type - II.

What are the other streets in Madambakkam with the same guideline value?

Other streets in Madambakkam with the same guideline value of Rs 1,300 per sq.ft include Karumari Amman Nagar 1st Street, Karumari Amman Nagar Link Road, Karumari Amman Nagar Main Road, and Karumari Amman Nagar-Sri Devi Nagar Main Road.

Where is the Sub Registrar Office for Karumari Amman Nagar 2nd Street located?

The Sub Registrar Office for Karumari Amman Nagar 2nd Street is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.